Venture capital investment in cryptocurrency and blockchain startups will likely set a new all-time high in 2019, Reuters reported on April 17, quoting figures from market data provider PitchBook.
Following on from the $2.4 billion in funding the industry received from backers last year, the $850 million raised this year already looks set to beat all previous records.
At the same time, while continuing to avoid direct involvement with cryptocurrency handling, investors appear to be contributing larger sums per deal.
2018’s total came from 117 investments, whereas this year’s tally stems from just 13, Reuters reports.
While Reuters did not confirm which specific deals PitchBook counted in its listings, the cashflow pouring into crypto businesses is becoming ever more conspicuous.
As Cointelegraph reported, this week alone saw a giant $200 million deal between a Japanese investment fund and the operator of South Korean cryptocurrency exchange Bithumb.
Others also revealed cash injections, such as compliance startup Chainalysis, which this week added $6 million to its Series B funding pot, bringing the total raised to $36 million.
At the same time, those firms that struggled through the crypto winter with cost-cutting measures are also showing newfound optimism.
This week, sources reported that blockchain development startup ConsenSys was planning to raise $200 million, having previous announced it would have to cut staff numbers.
This post was originally published on www.cointelegraph.com